Commercial banking

The San Diego County-based hospital system's financial woes were dire enough to earn junk ratings from Fitch Ratings, Moody's Ratings and S&P Global Ratings earlier this year. Fitch further downgraded the already junk ratings on Wednesday.

Bond issuers are establishing common reserve funds to spur economic growth while also generating income, but risk is involved.

The Trump administration may cut the Affordable Care Act and Medicaid, which threatens to land on a hospital sector still recovering from the COVID-19 pandemic.

Indianapolis-based Sycamore Advisors is building its quantitative muscle with two new experienced municipal finance hires in New York: Peter Orr and Ching Yin.

Daily report for December 20, 2024

"Munis are grappling with a storm of uncertainty," said James Pruskowski, chief investment officer at 16Rock Asset Management.

Moody's cited heavy reliance on reserves, potential for continued operating deficts, and a fall 2024 decline in enrollment as factors in the downgrade.

Andrew Wynn, co-founder and co-CEO of Ascend, has been at the forefront of empowering insurance companies through cutting-edge, profit-enhancing technology. With over a decade of experience in technology and insurance industries, Andrew has developed a keen insight into the challenges faced by insurance professionals.

Andrew started Sheltr, acquired by Hippo, a homeowner's coverage insurtech. During his time there, he witnessed firsthand the inefficient and outdated payment and accounting workflows that exist within insurance. With this experience, he founded Ascend with his co-founder, Praveen Chekuri.

A bipartisan agreement on a continuing resolution to keep the government open fell apart after intervention from President-elect Trump and Elon Musk, raising concerns about federal funds flowing to states, local governments, and infrastructure projects.

The central Texas city of Clyde said it issued tax and revenue anticipation notes with a 9.5% interest rate to repay its insurers after an Aug. 1 bond default.

Jim Daniels has nearly 40 years of experience and leads UHY's Albany tax practice, which includes oversight of all tax engagements. He has an extensive background serving a variety of entities with tax compliance and planning related to corporate, individual, estate, and state and local taxes. He has vast knowledge of federal, state and local tax planning and multistate taxation.

Bryan Eberle is president of tax solutions at Nepsis, a national financial advisor and investment management firm.

He joined the firm prior to its acquisition of the full-service tax, accounting and consulting firm Sevenich, Butler, Gerlach & Brazil and was instrumental in planning for, and played a crucial role in, expanding Nepsis' tax program and merging the two entities.

It's hard enough convincing local governments to spend money on cyber insurance that covers ransomware attacks, said Omid Rahmani, public finance cybersecurity lead at Fitch Ratings. The new and very specific threat of a hacked financing process, is "absolutely" underappreciated by the public finance industry.

The challenge to the 2022 approval of bonds for a PACE program could "catastrophically undermine" the finality of all Florida bond validations, the agency said.

Daily report for December 19, 2024